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Average Tax Refund up Nearly 11 Percent so Far This Filing Season
The average refund increased 10.9% to $2,290 as fewer returns were filed and processed, with total refunds rising 1.9% despite an 8.1% drop in refunds issued, IRS data shows.
- Data show the IRS reported as of Feb. 6, average refunds increased 10.9% to $2,290, despite a slower filing pace.
- The totals show nearly $16.7 billion was refunded, rising 1.9% to almost $17 billion, while over 7.4 million refunds were issued as of Feb. 6, and nearly 22.4 million returns received, down from last year.
- Average direct deposit data show the average direct deposit refund is $2,388, up 10.3% from $2,165 last year, and taxpayers preparing to file are advised to set up direct deposit to receive refunds sooner.
- IRS guidance shows e-filed returns process within 21 days, mailed returns take six weeks or more, amended returns up to 16 weeks, and taxpayers can check status within 24 hours using the 'Where's my refund?' tool.
- Treasury Secretary Scott Bessent said taxpayers will receive large refunds this filing season and expects 'VERY LARGE' tax refunds early next year.
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Total News Sources33
Leaning Left2Leaning Right4Center21Last UpdatedBias Distribution78% Center
Bias Distribution
- 78% of the sources are Center
78% Center
C 78%
15%
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